MANILA — The government posted a PHP28.8-billion budget surplus in August 2017 as revenue collections for the month grew higher than expenditures.
Data released by the Bureau of the Treasury (BTr) on Friday showed that expenditures in the eighth month this year reached PHP201.6 billion, up 14 percent from PHP177 billion a year-ago.
Revenues rose by 10 percent to PHP230.4 billion against year-ago’s PHP209.6 billion.
The Bureau of Internal Revenue (BIR), which collects around 70 percent of taxes, contributed PHP171.7 billion, nine percent higher than PHP157.5 billion collections same month last year.
The Bureau of Customs (BOC) shared in PHP38.3 billion, 16 percent higher than its PHP33.1 billion revenues in August 2016.
As of August this year, the government’s budget deficit stood at PHP176.2 billion, 27 percent higher than the PHP138.4 billion same period last year.
BIR revenues reached PHP1.157 trillion, nine percent up from year-ago’s PHP1.06 trillion.
BOC contributed PHP283.6 billion, 11 percent higher than its PHP254.6 billion collections in end-August last year.
Expenditures to date reached PHP1.777 trillion, 10 percent higher than the PHP1.619 trillion same period last year. (PNA)
